Vice-President Kashim Shettima has defended President Bola Tinubu's economic reforms, stating that the President took difficult decisions that saved the country from economic collapse. Shettima made these comments in Lagos after meeting with Tinubu, who recently returned to Nigeria from his annual vacation. The Vice-President emphasized that Tinubu's decisions were necessary to prevent a deeper crisis.
According to Shettima, Tinubu inherited an economy that was already "teetering on the verge of collapse". He pointed to the removal of petrol subsidy and the unification of multiple exchange rates as difficult decisions that were necessary to prevent a deeper crisis. Shettima also mentioned that the country's foreign reserves stood at only $3.9 billion when the administration assumed office, which was insufficient to import fuel for one month.
Shettima urged Nigerians to be "generous" towards President Tinubu, saying that he had the courage and conviction to take power-reaching decisions. The Vice-President added that Tinubu saved the economy and prevented the nation from falling into pieces. He compared Nigeria's situation to that of Caracas, implying that the country was on the brink of a severe economic crisis.
While acknowledging the hardship facing Nigerians, Shettima said that the difficult period would not last forever. He quoted a saying that "tough times do not last forever; tough people do". The Vice-President also listed government interventions aimed at reducing the impact of the economic crisis, including the planned deployment of 10,600 electric tricycles in the North-East and the launch of e-logistics in the North-West.
Shettima mentioned that 300 buses and e-taxis would also be deployed to "ameliorate the sufferings" of Nigerians. He described the Nigerian Education Loan Fund as a major intervention for students from low-income families. According to Shettima, Tinubu remained concerned about ordinary Nigerians and had "a lot of empathy for the common man".
The Vice-President stated that the Federal Government would continue rolling out programmes to ease economic pressure. He also mentioned that the administration would continue to govern while participating in politics, saying that "politics is in the air, but we'll combine politics and governance". This suggests that the government is preparing for the 2027 political activities.
Shettima emphasized that Tinubu's administration is committed to supporting Nigerians through the current economic challenges. He expressed optimism that the country would overcome its current difficulties and emerge stronger. The Vice-President's comments reflect the government's efforts to defend its economic policies and reassure Nigerians of its commitment to their well-being.
Key points
- Tinubu's administration implemented economic reforms to prevent a deeper crisis.
- The country's foreign reserves stood at $3.9 billion when the administration assumed office.
- The government is rolling out programmes to ease economic pressure on Nigerians.
